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amount of the deficiency plus interest
claimed by the Secretary, and
(B) the Tax Court finds under section 6512(b)
that the taxpayer has made an overpayment.
(3) Special rules.–-If the Tax Court determines
under this subsection that the taxpayer has made an
overpayment of interest or that the Secretary has made
an underpayment of interest, then that determination
shall be treated under section 6512(b)(1) as a
determination of an overpayment of tax. An order of
the Tax Court redetermining interest, when entered upon
the records of the court, shall be reviewable in the
same manner as a decision of the Tax Court.[6]
We have jurisdiction to redetermine interest under section
7481(c) when: (1) The entire amount of the deficiency plus the
entire amount claimed by the Commissioner as interest on the
deficiency has been paid; (2) a timely motion to redetermine
interest has been filed; and (3) an assessment has been made by
the Commissioner under section 6215 which includes interest.
Rule 261; ASA Investerings Pship. v. Commissioner, supra at 425;
Bankamerica Corp. v. Commissioner, 109 T.C. 1, 6-7 (1997).
Petitioner has paid the entire amount of the deficiency for
the tax year ended January 31, 1994, plus the entire amount of
6Under sec. 7481(a), a decision of this Court becomes final
“after the exhaustion of the possibilities of direct review”.
This finality generally precludes any subsequent consideration by
the Court. Kenner v. Commissioner, 387 F.2d 689, 690 (7th Cir.
1968); ASA Investerings Pship. v. Commissioner, 118 T.C. 423, 425
n.3 (2002). Sec. 7481(c) “‘specifically carves out an exception
to the rule on the finality of our decisions’; a prerequisite for
invoking that exception is a final decision of this Court.” ASA
Investerings Pship. v. Commissioner, supra at 425 n.3 (quoting
Bankamerica Corp. v. Commissioner, 109 T.C. 1, 8-9 (1997)).
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